5 Reasons Why Regency Square Mall's Days Are Numbered

3. Belk Says Bye-Bye


Management has been unsuccessful in luring a long term retailer to replace Montgomery Wards. Soon, they'll have to find a replacement for Belk as well.

The loss of anchor tenants typically accelerate the downward spiral of struggling malls. Malls with vacancy rates above 20% have a hard time of finding new tenants when old ones leave. With the former Montgomery Wards space sitting empty, for the most part, since that chain shut down in 2001, those familiar with Regency should understand this dilemma.

It's already bad enough that Dillard's has been converted to an outlet store not even open on Mondays and that Sears and JCPenney are two major anchors.  Both struggling chains are hemorrhaging billions and neither may not survive to see 2020.

However, anchoring both the east and west malls, Belk was the one solid Regency anchor that offered hope of retail revitalization. Unfortunately, those dreams were dashed earlier this year when Belk announced its decision to give up on Regency in order to move to greener pastures at Atlantic and Kernan Boulevards.